Particle.news
Download on the App Store
8 ARTICLES
·
last wk.

CoinDCX Founders Granted Bail in Thane Fraud Case

The ruling turned on a lack of initial evidence linking them to the fraud.

Image
The defence said the co-founders were not present at the time of the alleged meetings and that fraudsters used their names and the company’s identity to cheat the complainant.

Overview

  • CoinDCX co-founders, who were granted bail Tuesday, were released on Rs 50,000 bonds each with orders to cooperate with the probe.
  • The magistrate found no prima facie case after the complainant said he did not meet the founders and reported repayment by another accused.
  • Police said the Bharatiya Nyaya Sanhita cheating case stays open as officers work to trace four other individuals named in the FIR.
  • CoinDCX attributed the episode to brand impersonation using a lookalike site and said it had flagged more than 1,200 fake domains to cyber cells.
  • The case follows a rough period for the exchange that included a 2025 $44 million hack and Enforcement Directorate fund attachments reported later that year.